NEW YORK, March 1, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Rockwell Medical, Inc. ("Rockwell Medical" or the "Company") (NASDAQ: RMTI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Rockwell Medical and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 9, 2015, Rockwell Medical announced the U.S. commercial launch of Triferic, an iron product approved by the U.S. Food and Drug Administration and indicated to replace iron and maintain hemoglobin in hemodialysis patients in the United States. On February 29, 2016, post-market, on a conference call discussing the Company's fourth quarter 2015 earnings, Rockwell's Chief Financial Officer Tom Klema admitted that the Company had not sold any Triferic during the quarter, describing sales of the product as "immaterial."
On this news, Rockwell Medical stock has fallen as much as $3.60, or 37.5%, to $6.00 during intraday trading on March 1, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz LLP email@example.com
SOURCE Pomerantz LLP